Harold Feld explains the FCC “third way” reclassification decision. He goes into a moderate amount of detail, but this is perhaps the takeaway:

…I call this a “legal reset.” Basically, Genachowski is saying “Back in 2002, when we moved cable modem service (and later other forms of broadband access) into the Title I/information services/ancillary authority box, we thought we would still have authority to protect consumers and do other necessary policy things. The Comcast court told us we were wrong. So now we’re going to move broadband access service into the Title II/telecom service box. But nothing substantive/policy changes. We’re just doing what the DC Circuit told us to do by articulating a different theory of authority.”